How to cancel your Spring Financial account

About Spring Financial

Spring Financial is a finance company based in Canada. The company was founded in 2014. Spring Financial is a subsidiary of Canada Drives, which is a leading auto financing company in Canada. The Chief Executive Officer is Michael Galpin. The Director is Cody Green. The Customer Relations Manager is Laura Marchand. The headquarters are located in Vancouver, British Columbia, Canada. Spring Financial offers an accessible solution for Canadians who want to establish a positive payment history.

Upon loan approval, the funds will go into a secure trust account. On a bi-weekly basis, you will be making small payments. As you pay off the loan, the payment reports will be sent to major credit bureaus, which will build your payment history. Once you have paid off the loan, the funds will be released from the trust account and deposited into your bank account. In order to be approved for the loan, you will need a valid government-issued ID, a bank statement with 30 days of transaction history, and a voided cheque. Trained agents can assist you in gathering this information. Spring Financial operates in every province and territory in Canada, except Saskatchewan, Quebec, New Brunswick, and Nova Scotia. The interest rate for the loan is 17.99%. There is a $550 setup fee that is included within the principal balance of the loan. If you miss any payments, there is a $30 NSF fee. If you can not make a payment on time, you should reach out to the Client Care department. Loan terms are usually for 12-36 months. Spring Financial’s services are ideal for people who are seeking to build their credit and paying history to qualify for car loans, mortgage, credit cards, or more items that require good credit.

Canceling your loan is simple. We have made it easier by including a simple how-to guide on this page. Please continue reading for further information.

Some Account Information You Might Need

We’ve found that the following information might be needed when you use the below methods to cancel.
First Name
Last Name
Phone Number
Email Address
Billing Address
ZIP/Postal Code
Reason for Cancellation
Last 4 Digits of Card
Date of Last Charge
Amount of Last Charge

How to Cancel Spring Financial by Phone (Live Agent)

Step 1. Contact the business at 1-888-781-8439
Step 2. Advise the representative that you want to cancel your account
Step 3. Provide the agent with your account info
Step 4. Ask for a verbal confirmation code or email as proof of your cancellation
Step 5. Retain the confirmation information you’re given

Spring Financial could also be known as the following

Spring Financial
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Please note that is not associated with the business listed on this page. AccountKiller provides easy-to-understand instructions and guides on how to cancel charges and relationships from the list of businesses on our site, we have no affiliation with these businesses.

65 thoughts on “How to cancel your Spring Financial account”

    • Where you able to cancel I cant afford to pay 60 dollars every two weeks I have a maxed credit card and line of credit I thought I was getting money I messed up they made it sound like I was going to get money not pay 5000 and get back 1750 in 3 years I cant do that

      • Yes that’s what I thought I was getting money to. Now I have a big over minus on my bank account. For nothing as i didnt get no loan from them. I really wanna cancel this really bad before it gets worse on my account…

      • Lucky for you under the consumer protection act if you reside in Ontario, Spring financial has violated misrepresentation conduct and you can get them in serious trouble for it. I’ll leave the link for you to check out.

        • Where in S. 14 (2) of the Consumer Protection Act (Ontario) does Spring Financial ‘violate misrepresentation conduct’ (whatever that is). If you’re not a lawyer, don’t give people (bad) legal advice. Spring Financial’s contracts spell out the consumer’s obligation under the contract. A contract, once signed, is binding upon the parties to it. ‘Buyer’s remorse’ is not covered under S. 14 (2) of the Consumer Protection Act (Ontario). Just because a consumer changes their mind about a financial service, doesn’t give the consumer a right to cancel a contract. Next time, read the entire contract and take it to a lawyer for independent legal advice. I file this discussion thread under the heading: ‘You can’t fix stupid’.

      • I tried to get a pay out amount from them today and was told they couldn’t give me an amount until I paid my arrears .
        I tried to tell the representative that called me back to have a supervisor call me back and he refused.

  1. How is this even legal? What a scam. Don’t know how these people sleep at night knowing that they are just ripping honest hard working people off. I thought we had laws agri st loan sharing. 30, 40 percent interest. Give me a break. Fuck you spring financial

    • Under the Bank Act 60 percent per annum is the maximum interest allowed, that is little comfort. Why not sign up for a secured credit card elsewhere, make payments on time and credit rating should improve. Or if you can wait put the amount you would be paying them every month in a savings account.

  2. I got a loan on false information. I was told I would get the money I needed. I called them back right away and wanted to cancel. The manager was rude and told me I shouldn’t have sighed the papers on line. Now I’m stuck with payment of 84.00 a month. This is sad people screw the little people.

  3. I got screwed to now I have to pay 60 dollars every two weeks for 3 years and no money for me at all I guess I get back 1750 I really cant afford this it really sucks

  4. I feel sick to my stomach I feel like I got violated how can you make it sound like your getting money and then this how does this help me I have to pay my credit card car payment line of credit Bill’s and now this 60 dollars every two weeks for three years I’m so devastated

  5. Same as what happen to me they said i cant cancel my acct… and the nsf fee was killing me it charge twice more than my monthly payment its killing me?? i keep trying to cancel it..i wish I can?

    • You can try calling your bank and changing your account and transit number. They did the same to me and i changed my information now they cannot access my bank account

      • Won’t this mess up your credit really bad though ? As it’s a signed loan contract ? Not disagreeing, just curious as I want out also !

        • And it seems like i got wrongly mislead and it seems like they con you into thinking that you are going to get a loan, and it is stupid process into having to pay into getting a loan, for a loan, and then you have to pay to get your own money back!!

  6. I was applied for a loan to pay some of my bills and these people took advantage when people desperate. I was misled and thought they will help me when they told me I’m approved it ended up that I made an additional payment without that money. It’s worse and difficulties to pay more bills.

  7. I applied for a credit card , with the purpose of paying off my loan.
    But they transfer me to spring financial . The agent i was talking to , she convince me that i will be able to get the money after few payments proving that i can pay my bi- weekly payments to them. After fews months i called again to ask when , on then they told me that i won’t be able to get the money until i will pay them off. Right then i was trying to cancel my account but they told me I can’t cancel it. The only way to get out from that loan is to pay the whole amount.
    The agent lied to me they they told me wrong information just for me to sivn up. If they told me everything i wouldn’t sign up . But they trick me just to sign up. I know they are thinking they are helping Canadians. Maybe to others but for me no.
    They lied to me ,just for to sign up and then not allowing me to cancel my account. What kind of institutions is that? They are forcing people continue paying them. Lying to for you to sign up.
    This is not helping. This is truly just making money out of poor people like me.

    • This is ridiculous. Just a bunch of uneducated, unprofessional scheming individuals who try to deceive you in thinking your receiving a loan, but you’re actually just giving the company free money and will receive petty cash at the end of all of it.

      • I’ve been trying to contact their customer service for a couple weeks now. First I tried emailing them. When I didn’t receive a reply. I tried their 24/7 1-800 number. I left a call back number as that was the only option I was given. I want to pay off loan early and be finished with this money sucking vampire of a company.
        They really don’t care about the customer. Only filling the big bosses pockets. Even if I had a zero for a credit score. I wouldn’t trust this company to help me rebuild my credit again.

        • Did you ever get a hold of them? I’ve been trying to do the same. No luck. I’ve also been reading allllll the reviews on the Better Business Bureau. I hope we’re not screwed by this shady company….so called company

          • The only option I can see is the Better Business Bureau. I have a similar story and emails, phone calls etc. will not work. I am starting the process.

  8. I resorted to contacting them every 60 minutes until finally someone gave me an email to send a cancellation request to. Horrible tactics and very questionable ethics.

  9. I also need to cancel my account as I just can’t afford I have paid for over a year I don’t care keep that money just close my account

    • They are a scam. First you call Canada Drives and they transfer you to spring financial. They make it sound like you are getting money. They read the contract over the phone and rush you to sign up for the agreement that they didn’t mention over the phone. Tried to call them back before the first payment but wouldn’t return the call.

  10. Spring financial was totally a scam!!!
    They will let you pay the said amount but you didn’t even received any money from them!!! Im trying to cancel my account and they said they can’t cancel!!! Can anyone help me to cancel my account i am very disappointed to them!!

  11. cannot get outta this mess i am stuck with these people because i was fast talked into it now they are clearing out my account what to do

  12. I have contacted spring financial about canceling as of June 15 2020. This is what they told me.
    At first they said it was impossible there was no way to cancel the account. Then I got mad and accused them of lying and misinformation. So they put me on hold and came back to say “They can cancel the account but there’s a fee of around $69 and you will not receive any money back from either what you paid in to it or the loan itself.“
    I had to fight to get that information. I’m still determined to find a way to get my money back as I have read of people who did.
    Spring financial is a scam and liars! If you are stuck in your contract try to pay it off as fast as you can or they’ll suck even more out of you in the long run!

  13. When I called it was during the pandemic and I was in need of a loan I was I would be getting the funds. The person I was speaking was speaking so fast and whenever I asked him to repeat he would say it even faster. I felt he was just rushing me so that I could sign. I was told to just change my bacon account so that they wouldn’t be able to get money out.

  14. Same experience as other people. Cancel my account the same day and they took my money anyway. It is a scam!!!!!! Needed money to repair my car and I end up with no money and an additional bill which i can’t afford it.

  15. Hello I was recently laid off and i have the type of loan where you take my money and I need to put a pause on it because I am only on EI right now. Please email me back so we can talk about what to do so I stop getting NSF fees. Thank you

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